FG slashes Customs charges on imported vehicles by up to 67%

A new tariff policy that cuts Customs charges on imported new and used vehicles has started.

The Federal Government reduced the levies as part of its 2026 fiscal policy, a move aimed at lowering the cost of bringing vehicles into the country and making them more affordable for buyers.

The new policy took effect on July 1 and is part of a wider review of Nigeria’s import tariffs and Customs system to boost trade and support economic activities.

Under the new arrangement, the import levy on new vehicles has been reduced from 20 per cent to 10 per cent, while the levy on used vehicles dropped from 15 per cent to five per cent.

The Nigeria Customs Service (NCS) announced the implementation in a statement on its website. (Tribune)